Purchase, New York-based PepsiCo reported that it’s on track to spend more than $400 annually with Black and Hispanic suppliers. That commitment is part of the company’s Racial Equality Journey initiative launched two years ago. In 2021, PepsiCo spent almost $500 million with Black and Hispanic suppliers.
Global Chief Procurement Officer Melani Wilson Smith said they would leverage PepsiCo’s size and reach to help address the systemic barriers that too often limit or exclude diverse suppliers from developing and expanding their businesses.
PepsiCo recently celebrated the 40th anniversary of its Supplier Diversity Program. From an initial spend of $5 million in 1982, the beverage giant has spent nearly $30 billion over the past 40 years. Today, PepsiCo spends over $1 billion annually with certified diverse suppliers, including veterans, women, Blacks, Hispanics, Asians, LGBTQ+ individuals, Native Americans and individuals with disabilities.